Kenneth Halverson Sells 1,500 Shares of Richardson Electronics (NASDAQ:RELL) Stock

Richardson Electronics, Ltd. (NASDAQ:RELL) Director Kenneth Halverson sold 1,500 shares of Richardson Electronics stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $17.47, for a total value of $26,205.00. Following the completion of the transaction, the director owned 10,865 shares of the company’s stock, valued at $189,811.55. The trade was a 12.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Richardson Electronics Stock Performance

RELL stock opened at $16.87 on Wednesday. The company’s 50 day moving average price is $18.30 and its 200 day moving average price is $15.43. Richardson Electronics, Ltd. has a fifty-two week low of $9.37 and a fifty-two week high of $23.15. The firm has a market capitalization of $247.82 million, a price-to-earnings ratio of 38.34, a PEG ratio of 1.33 and a beta of 1.28.

Richardson Electronics (NASDAQ:RELL) last issued its quarterly earnings results on Wednesday, July 22nd. The technology company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.14. Richardson Electronics had a net margin of 2.79% and a return on equity of 3.55%. The company had revenue of $66.20 million during the quarter, compared to the consensus estimate of $55.37 million. Equities analysts forecast that Richardson Electronics, Ltd. will post 0.5 EPS for the current fiscal year.

Richardson Electronics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Friday, August 7th will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, August 7th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.4%. Richardson Electronics’s payout ratio is presently 54.55%.

Institutional Trading of Richardson Electronics

Institutional investors and hedge funds have recently bought and sold shares of the business. Aristides Capital LLC lifted its position in Richardson Electronics by 4.7% in the fourth quarter. Aristides Capital LLC now owns 20,940 shares of the technology company’s stock valued at $228,000 after purchasing an additional 940 shares during the period. Empowered Funds LLC lifted its holdings in shares of Richardson Electronics by 7.6% in the 1st quarter. Empowered Funds LLC now owns 20,596 shares of the technology company’s stock valued at $226,000 after buying an additional 1,454 shares during the period. Nuveen LLC boosted its stake in shares of Richardson Electronics by 9.7% in the fourth quarter. Nuveen LLC now owns 16,970 shares of the technology company’s stock valued at $185,000 after buying an additional 1,507 shares in the last quarter. Bridgeway Capital Management LLC raised its position in Richardson Electronics by 2.5% in the fourth quarter. Bridgeway Capital Management LLC now owns 65,753 shares of the technology company’s stock worth $715,000 after acquiring an additional 1,587 shares in the last quarter. Finally, California State Teachers Retirement System raised its position in Richardson Electronics by 394.2% in the second quarter. California State Teachers Retirement System now owns 3,232 shares of the technology company’s stock worth $61,000 after acquiring an additional 2,578 shares in the last quarter. Hedge funds and other institutional investors own 71.95% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on RELL shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Richardson Electronics in a research report on Monday, July 20th. Zacks Research raised Richardson Electronics from a “hold” rating to a “strong-buy” rating in a report on Friday, July 24th. Wall Street Zen raised shares of Richardson Electronics from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Northland Securities upgraded shares of Richardson Electronics from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $14.00 to $24.00 in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $24.00.

Richardson Electronics Company Profile

Richardson Electronics, Ltd. (NASDAQ:RELL) is a global manufacturer, distributor and servicer of engineered components and subsystems for a diverse range of industrial, medical and scientific applications. The company specializes in vacuum electron devices, high-voltage power supplies and related electronic components, offering klystrons, traveling wave tubes, magnetrons, X-ray tubes, microwave amplifiers and power conversion products. Its solutions support customers in power grid management, semiconductor processing, medical imaging, scientific instrumentation and telecommunications.

In addition to its manufacturing capabilities, Richardson Electronics maintains a broad distribution network comprising thousands of standard and custom parts.